Argosy Private Equity

Argosy Private Equity, a division of Argosy Capital

Argosy Capital was formed in 1990 by John Kirwin and Kirk Griswold to manage the capital of a family office.  The firm began raising capital from third parties in 1996 with the formation of Argosy Investment Partners, L.P., a private equity fund.  Argosy Capital currently has approximately $1 billion of assets under management, including Argosy Private Equity with $600 million of AUM.

Argosy Private Equity Differentiation –

Argosy Capital and its principals are the largest investors in each private equity fund, including Argosy Investment Partners V, L.P., the $300 million fund currently being invested.

Other attributes include:

i. Lower middle market deal focus, companies with $3 million to $10 million of EBITDA at acquisition

ii. Expertise with manufacturing, business services and value add distribution businesses,

iii. Operational focus with four full time operating partners and a network of external operating partners  and consultants to assist management with strategic plan development and tactical execution,

iv. Flexible deal structures including control equity, minority equity and mezzanine debt,

v. Low leverage bias with value built by organic growth and acquisitions,

vi. Large team for a lower middle market fund, with a focus on long term value creation by the high caliber team, not AUM accumulation,

vii. A partnership approach to working with management teams and co-investors, and

viii. A 25+ year track record referenceable with management teams, limited partners and co-investors.

Case Study –

Argosy was introduced to UC Coatings by a fundless sponsor in mid-2013.  The company is a leader in its niche of high value hardwood sealants, but the overall market appeared to be too small to support a significant value creation plan by growing only the existing suite of products.  Argosy enlisted Clarity to execute an acquisition due diligence study, including analysis of adjacent markets with potential commercial synergies.  The study confirmed adequate growth potential through the acquisition of companies producing complementary products.

Clarity was subsequently engaged to run an add on acquisition program.  This initiative yielded the Seal Once acquisition, introducing a line of ecofriendly waterproofing sealers and cleaners to the UC Coatings product line.